Reverse Mortgage Payoff

Reverse mortgages can be a helpful option for seniors who have built up equity in their homes. However, it’s important to understand what happens to a reverse mortgage loan after the death of the borrower, especially where the property was part of a trust or an estate. What is a Reverse Mortgage? A reverse mortgage, […]

A reverse mortgage is a loan against your property. Homeowners age 62 or older can tap into the equity in their home and receive monthly payments or a line of credit.

Over the last few decades, many homeowners thought that applying for a reverse mortgage was something to be done only in the most dire and desperate of times.

Before getting into the details on reverse mortgage payoffs and how they work, it can be helpful to understand what a reverse mortgage is and why a loved one might get one.